After raising a $50-million round in July 2015 from Paytm along with investment firms Tiger Global Management and SAIF Partners, O2O deals discovery app, Little has now secured an undisclosed amount of funding from Singapore’s sovereign wealth fund GIC. The new funding is an extension of the July round.
Started by Zovi founders Manish Chopra and Satish Mani, Bangalore-based Little is a hyper-local app that helps people to find the deals on restaurants, movies, hotels, salons, gyms, spas and much more around them. The startup has enrolled over 5,000 merchants in 11 cities across India. The app is available for Android, iOS and Windows phone users.
In October 2015, the company had acquired Chandigarh-based curated deals marketplace Trideal for an undisclosed amount. Little has 7 lakh registered users on its platform, out of which 70% have already transacted. It charges 6-8% of the transaction value as commission. The startup expects to hit a GMV run rate of $170 million, by March 2016.
“Little will bring millions of hyper-local deals to Paytm consumers right from their neighbourhood. We will synergise the country’s largest mobile wallet and the Little app offerings with a focus on creating online-to-offline models,” said Paytm CEO Vijay Shekhar Sharma.Category Investments News